Coterra Energy (NYSE:CTRA) Sets New 12-Month High After Analyst Upgrade

Coterra Energy Inc. (NYSE:CTRA)’s share price reached a new 52-week high during trading on Wednesday after Raymond James Financial raised their price target on the stock from $31.00 to $34.00. Raymond James Financial currently has an outperform rating on the stock. Coterra Energy traded as high as $31.41 and last traded at $31.1370, with a volume of 932085 shares changing hands. The stock had previously closed at $30.56.

Several other equities research analysts have also commented on CTRA. Mizuho boosted their price objective on shares of Coterra Energy from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday, January 15th. TD Cowen reduced their price target on shares of Coterra Energy from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday. Johnson Rice lowered their price target on shares of Coterra Energy from $38.00 to $37.00 in a research report on Friday, December 5th. Wolfe Research lifted their price objective on Coterra Energy from $33.00 to $40.00 in a research report on Tuesday, February 3rd. Finally, Barclays reduced their target price on Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 21st. Fifteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $33.48.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Johnson Financial Group Inc. increased its stake in Coterra Energy by 1.4% in the fourth quarter. Johnson Financial Group Inc. now owns 25,158 shares of the company’s stock valued at $662,000 after purchasing an additional 349 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in Coterra Energy by 13.0% in the 4th quarter. Bruce G. Allen Investments LLC now owns 3,219 shares of the company’s stock valued at $85,000 after buying an additional 371 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Coterra Energy by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock valued at $1,438,000 after acquiring an additional 398 shares during the last quarter. KLCM Advisors Inc. lifted its holdings in shares of Coterra Energy by 4.2% during the 3rd quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock worth $233,000 after acquiring an additional 400 shares during the period. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of Coterra Energy by 26.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,998 shares of the company’s stock worth $53,000 after acquiring an additional 413 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Price Performance

The company’s 50-day moving average is $26.95 and its 200-day moving average is $25.29. The firm has a market capitalization of $23.44 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 0.76 and a beta of 0.38. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98.

About Coterra Energy

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.